Ethereum (ETH), the second largest cryptocurrency, has not been cheaper in a pair with Bitcoin (BTC) in nearly 5 years. It dropped near the degrees it was at when Bitcoin (BTC) was buying and selling beneath $10,000. On the similar time, the Ethereum (ETH) group stays captivated with its potential regardless of a lot criticism.
ETH/BTC loses 19% very quickly, hits April 2020 lows
ETH/BTC, the value of Ethereum (ETH) in a pair with Bitcoin (BTC), the biggest cryptocurrency, hit unbelievably low ranges at the moment, Feb. 3, 2025. Because the cryptocurrency phase collapses, ETH/BTC dropped to 0.02389, which is the same as 41,86 Ethers per 1 Bitcoin (BTC).
Essentially the most painful dip occurred at about 5:00 a.m. (UTC): ETH/BTC slipped from 0.029 to 0.02389 in lower than quarter-hour. In the present day’s ETH/BTC dip is the bottom since April 2020.
It signifies that this significant indicator was at at the moment’s ranges when BTC block rewards have been 12.5 Bitcoins per block, Terra and FTX had not celebrated their first anniversaries and Bitcoin (BTC) was recovering from Black Friday 2020, struggling to carry between $6,000 and $8,000.
ETH/BTC is down by 50% within the final 12 months. In the meantime, Bitcoin (BTC) dominance jumped over 63%, its highest since This fall, 2021.
In the present day, amid a devastating cryptocurrency collapse, the Bitcoin (BTC) worth dipped to $92,000 whereas Ethereum (ETH) touched $2,450. Aggregated cryptocurrency capitalization has seen $230 billion worn out within the final 24 hours.
This is among the most painful crypto plunges in historical past.
$2.32 billion: Liquidation tsunami accelerates
The cryptocurrency markets dumped because of the market’s panic triggered by potential new restrictions in buying and selling between the U.S., Canada, China and Mexico.
Within the final 24 hours, nearly 750,000 merchants have been liquidated on crypto derivatives exchanges, CoinGlass information says. In whole, they misplaced over $2,320,000,000 in equal, with $38.78 million BTCUSDT lengthy on HTX being the biggest liquidation.
The Cryptocurrency Worry and Greed Index dropped to 44/100, its worst since October 2024. In simply seven days, crypto sentiment switched from “Excessive Greed” to “Worry.”
By press time, some main belongings have barely recovered: Bitcoin (BTC) is altering palms at $95,400, whereas Solana (SOL) is again above $200. Ethereum (ETH) and XRP are nonetheless in deep pink.